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Author Topic: Is Bitcoin money?  (Read 108224 times)
deisik
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May 18, 2017, 12:59:25 PM
 #841

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money. Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services

All your points are debatable

First, gold is not money only in the established sense of the word. It is not used as money (i.e. as a means of payment), so it is not money, as simple as it gets. Nevertheless, it could be said that gold is money in retirement, and likely only temporary one. Many governments (especially those of developing countries like India or China) are hoarding gold like there's no tomorrow. Why are they doing that? Because they know that if shit hits the fan, no one will give a single fuck about their currencies but everyone will like their gold. And then gold will shine again as an international money. Further, I don't think that Bitcoin is like PayPal. Yes, it is a payment system, but you don't transfer dollars or whatever with it, it is an integral part of Bitcoin as such, so there is no valid and plausible reason to say that it is like PayPal just because it is a payment system in its own right. Otherwise, I could just as easily claim that cash is like PayPal (since it is also a payment system in and of itself)

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May 18, 2017, 03:55:42 PM
 #842

Bitcoin is an electronic payment system and operates independently a central bank.Bitcoin to whatever it stake,is still considered money that can also be traded with goods or services.

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May 18, 2017, 05:21:28 PM
 #843

I think the bitcoin is money even better than money, with bitcoin transactions we can send and receive money around the world faster and cheaper than real money.
yeah bitcoin is money and we can use bitcoin same as money for buy and sell something and you are right that we can send and receive our money around the world into bitcoin and i think bitcoin solve many problems for people and we can earn more money from bitcoin. 


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May 18, 2017, 05:23:56 PM
 #844

The term “Money” is just a regular term brought from the higher class people and allowed the regular people to get brain-washed into thinking that Money means dollar bills/other forms of currency that has no value whatsoever if a big disaster were to happen. I mean you could use banknotes for toilet paper though they have so many germs that it wouldn’t be that smart to do so.

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May 18, 2017, 06:15:29 PM
 #845

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money. Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.
i think everything which have value can be consider as gold. people are using gold for a long long time. they invest their money in gold so as  to  save their money. and if we talk about bitcoin, so bitcoin is money because it can be use for shopping, trading and for nay other purpose, but we do not need to convert it to any other currency. we use it directly for buying selling and for anything.


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May 19, 2017, 05:08:41 PM
 #846

This post began in 2010. It is interesting to see the changes in attitude over 6 or 7 years. Governments rule on what is is according to what benefits them at the time.

Some say money, some say property. It is what is is!


Well if we considere this, it is what it is then Bitcoin is a currency.  from the whitepaper, and definition, Bitcoin is a peer to peer electronic currency.  And now it is being considered as payment method and money by different countries like Japan, Philippines and soon by Australia.  Another good thing with bitcoin is it can be use as store of value too  Tongue

Since Bitcoin is not really accepted as money by other countries by definition that is more like an asset or commodity. So we can say that Bitcoin functions like money and also known as digital currency that is used as a medium of exchange or transactions especially in online world.
Bitcoin for me is money, as long as I can convert it into our currency it is considered for me as money. It maybe used for different aspect of payment like in online, it can also use in other way of services.

















































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May 19, 2017, 10:53:14 PM
 #847

Yes bitcoin is a money but it is an electronic money. Actually there are stores that accept Bitcoin as payment just like starbucks they are now accepting bitcoin in change of there products. And I believe soon bitcoin will be accepted on the market it is like a debit electronic money to be used on the market.
yes there is no doubt about bitcon is money and take can be use for purchasing and for so many other purposes, but in present time people are using bitcoin for trading and investment purposes, but in future i am hopeful that we will be able to use bitcoin as for currency purposes.
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May 19, 2017, 11:01:23 PM
 #848

Bitcoin is money because I earned money because of bitcoin even Im minor and student only. This my job as of now because Im not finish with my study so bitcoin is very helpful to me . I can buy my wants and needs before I cant afford to buy them but because of bitcoin I can afford now! Bitcoin easy to transact you can send bitcoin anytime and anywhere. Bitcoin can use also to pay our bills and online shopping. Uaing bitcoin have benefits if you have bitcoin to your wallet for sure you can what ever you want in online world.


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May 20, 2017, 04:04:37 AM
 #849

obviously,
bitcoin is a virtual money, in this current world bitcoin is the most famous and valuable virtual money, day by day it is getting bigger and trusted sector. hopefully, it will be a number one forms of money very soon.
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May 20, 2017, 04:13:12 AM
 #850

For me yes, bitcoin is a money. Because i can earn money with bitcoin, bitcoin is like my second job though. And yes, you also can use bitcoin as the payment too, it works like money.
Yes I agree,  and of course, in fact we should honestly say bitcoin better than money, because its value is on the rise so it looks very favorable.

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May 20, 2017, 04:57:51 AM
 #851

For me yes, bitcoin is a money. Because i can earn money with bitcoin, bitcoin is like my second job though. And yes, you also can use bitcoin as the payment too, it works like money.
Yes I agree,  and of course, in fact we should honestly say bitcoin better than money, because its value is on the rise so it looks very favorable.

Yup ,the fact that its value increasing unexpectedly just by holding it is alot better than money or cash.



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May 20, 2017, 05:17:08 AM
 #852

Anything being used for buying, selling, exchange is a money. Bitcoin is a currency. You can earn in bitcoin, you can buy with bitcoin and sell products and receive bitcoin. Like money in the banks which is mostly digital, btc can be considered as digital money.
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May 20, 2017, 05:19:45 AM
 #853

Yes because it can sustain our basic needs for living.It can also be a source of income for us.Bitcoin is money since it is capable of providing us the things that we are wishing to be in our possession.

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May 20, 2017, 05:33:41 AM
 #854

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money. Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.

it doesn't make sense what you say, bitcoin have nothing to do with paypal, paypal is a trusted tthird party that function as an escrow basically, bitcoin is an untrusted payment system

if you want an example how it would look to have paypal in the bitcoin world, bitcoin is the money paypal is the escrow, bitcoin is no different than electronic cash, i would compare to that, "virtual curreny" is just that...

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May 20, 2017, 05:48:44 AM
 #855

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.
Dollar Is Currency.. Not Money.
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May 20, 2017, 05:53:42 AM
 #856

Yeah right, I will tell everyone that bitcoin is money because with bitcoin can we do any better and faster than real money. bitcoin is better than real money because every transaction is secure, and cheaper.

                                       
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May 20, 2017, 06:23:29 AM
 #857

for me bitcoin is money its like a foriegn money that you can exchange it into local money, 7/11 accepts bitcoin in our country so you can buy using bitcoin.


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May 20, 2017, 07:27:16 AM
 #858

For me yes, bitcoin is a money. Because i can earn money with bitcoin, bitcoin is like my second job though. And yes, you also can use bitcoin as the payment too, it works like money.
Yes I agree,  and of course, in fact we should honestly say bitcoin better than money, because its value is on the rise so it looks very favorable.

Yup ,the fact that its value increasing unexpectedly just by holding it is alot better than money or cash.

In other words, Bitcoin works like money but not all considered as a money especially when we look up in the respective laws of our country which defines money in various ways so that's why some consider it as a commodity or asset rather than money.

Bitcoin and fiat have its own characteristics. Of course we know what fiat is and its scopes and limitations so I will focus my lens in Bitcoin. Bitcoin is a cryptocurrency that will really shape the world into a new form together with its edge and potentials.It is decentralize as we know and well distributed to the people all around the world. Its a convenient thing to use and a get away with the old banking system. Also it is impossible to fake a Bitcoin unlike fiat and it is secure. Also the volatility of Bitcoin is what makes its users excite and earn a profit from it. In conclusion, Bitcoin is an opportunity that everyone can grab as long as you have a gadget to connect to internet then you are good to go.

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May 20, 2017, 08:17:17 AM
 #859

Yeah right, I will tell everyone that bitcoin is money because with bitcoin can we do any better and faster than real money. bitcoin is better than real money because every transaction is secure, and cheaper.
Yeah, bitcoin is better than real money in some instances but not all the time bitcoin is still better than real money because bitcoin is just another payment system and people is just using bitcoin because of its faster and cheaper fees but in terms of daily usage and the common usage will stick to using fiat currencies that we already been using since from the start.

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May 20, 2017, 12:28:19 PM
 #860

From my perspective, I would like to call it as a money though it's virtual money.
Virtual money is also called money, it can be transferred in to money, it has value. Now a days it's getting powerful currency, Bitcoin itself can be used in selling and buying. So we must say that Bitcoin is a money.

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